The list of leading international pharmaceutical, medical technology, biotechnology and healthcare players in Singapore just keeps getting longer. They are here to leverage on the strong financial support and IP rights protection, world-class manpower resources, robust ethical framework and established physical infrastructure.
Business Start Up Kit:
To uncover the different pro-business elements of Singapore, start with our Business Starting Up Kit – a specially prescribed collection of information specific to starting up a biomedical science business in Singapore.
Accessing the government is easy in Singapore. The forward-looking, IT-embracing government has created an e-services and informational portal called eCitizen in its drive to achieve excellence in public service. This award-winning portal makes it convenient to navigate through the myriad of government bodies. At eCitizen, in addition to accessing a diversity of information from government agencies, you can also conduct a wide range of transactions online with the government.
Singapore’s open immigration policy facilitate the process for foreigners to come here to work. To find out what you need to do and how to get passes for employment, short-term work, training and short stays, visit Contact Singapore or Immigration & Checkpoints Authority (ICA). Foreigners interested in starting up businesses in Singapore may be granted Long Term Social Visit Pass for Technopreneurs that will allow them to stay here for up to six months to explore business opportunities and fine-tune business plans, and up to a year if they have the support from the Agency for Science, Technology and Research (A*STAR).
There is strong financial support in Singapore, ranging from monetary support including tax incentives, grants and VC funds to other forms of support such as incubator services and commercialization support.
Singapore came out top in a “Top workforce in advanced economies” study. Indeed, an extensive pool of world-class manpower resources is available across the different levels of skills required by the manufacturing industry in Singapore. In addition, a range of training & attachments initiatives have been set in place to provide a sustainable stream of value-adding manpower to the industry. The Biomedical Sciences Manpower Advisory Committee (BMAC), formed by the managing directors from various pharmaceutical manufacturing companies and representatives from relevant Institutes of Higher Learning in Singapore, undertakes industry-wide initiatives to enhance training and education, as well as manpower attraction and retention for pharmaceutical manufacturing.
Various forms of support and schemes are available for setting up manufacturing activities in Singapore
The cost of doing business in Singapore is also a factor many companies find reasonable. The Jurong Town Corporation also keeps the cost of setting up plants and offices low in Singapore by constantly developing new product concepts to suit their needs, such as its Technopreneur Centre @ Ayer Rajah that offers centralized business services.
There’s also an alluring suite of financial incentives available for pharmaceutical and medical technology manufacturers to tap on.
Finding a site or office to locate your business is not a major concern at all in Singapore. Simply because the city-state offers a well established physical infrastructure that comprises of prepared land, ready-built factories and specialized biomedical parks to cater to varying needs.